13.04.202113:08 Forex Analysis & Reviews: Saudi Arabia ramps up oil production in response to increased demand in the Asian market

Saudi Arabia is set to increase oil supply next month in response to demand from India's state-owned refineries and five other Asian consumers.

India received particular attention after its four state-owned refineries submitted lower bids or supply requests. All in all, the order fits in one Aframax-sized vessel, or approximately 600,000 barrels, which is less than what was allotted last month.

The main reason for this is the ongoing tensions between India and Saudi Arabia over Riyadh's oil policies. India's state refiners were also asked to cut production by about a third of their monthly average next month. However, the country is already grappling with the resurgence of COVID-19, which means that output may not reach its target levels.

As a result, they submitted requests to two European refiners, but one of them asked to lower the amount than usual.

On a different note, the Houthis once again launched a drone-attack to Saudi Aramco oil facilities.

But even if the attacks increased in frequency this year, they rarely claim lives or cause significant damage.

Aramco did not respond to a request for comment, while the Saudi government did not comment on the situation at all.

The Houthis have been fighting the United Nations-recognized government of Yemen since 2014. The following year, a coalition led by Saudi Arabia intervened, but is on the side of the government.

Saudi Arabia, which last month proposed a ceasefire in the war in Yemen, is seeking additional assistance from the US to protect its oil facilities.